Post Utme Summit University 2021 Economics Question 13

Practice objective / multiple choice question 13 from the 2021 Post Utme Summit University Economics examination.

Post Utme Summit University 2021 Economics Objective / Multiple Choice
Question 13 POST_UTME_SUMMIT_UNIVERSITY • 2021 • ECONOMICS • objective

The demand for a good is given by the function D(p) = 100 - 2p, where p is the price of the good. U\sing the concept of elasticity of demand, find the price elasticity of demand when the price is ₦50.

Answer Options

Correct Answer A. 0.5
B. 1
C. 2
D. 3
Correct Answer
A
Correct Option:
0.5

About This Question

This is Post Utme Summit University 2021 Economics Question 13. It is one of the objective questions from the 2021 Post Utme Summit University Economics examination.

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